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June 12th, 2014: SP-500 EOD Update

Posted by pugsma on June 12, 2014

4:55 pm EST:    The SP-500 primary count Ending Diagonal (ED) completion of  major [5]-P3-C1 is still intact below the 1973 maximum and the 30 drop from 1956 to 1926 has erased the “over-throw” move out of the ED rising wedge during wave v-(c) of minor 5 of major [5]-P3-C1.

The primary count is that wave minor 1 of major [A]-P4-C1 is underway headed for the 1915/1920 area.  There should then be a wave minor 2 bounce to the 50%/62% fib retrace of 1936/1941 before wave minor 3 heads for 1870, where minor 3=1.62*minor 1.  The target for the completion of major [A]-P4-C1 is at the 1849 pivot.  Ultimately, P4-C1 should reach at least the 23% fib retrace of P3-C1 (basis 1956) at 1754.  The primary count remains valid as labeled below 1956.

The alternate (blue) count has been adjusted to show this 30 point drop from 1956 to 1926 as a wave (4) of minor 3 of major [5]-P3-C1.  Wave (4) maybe complete today at 1926, however there is some typical wave 4 confluence at the 38% fib retrace of 1920 and the wave iv-(3) of lesser degree at 1919 if the SP-500 decides to head a little lower before reversing higher.  Basis a wave (4) of minor 3 completion at 1920, the wave (5) of minor 3 target is up at 1997, where (5)=(1).  Ultimately major [5]-P3-C1 could target the major [5]=[1] area of 2085.  The alternate (blue) count remains valid as labeled above 1891.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 6-12-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 6-12-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 6-12-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 6-12-14

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